What's special about the Tet bonus in gold for workers?

Tet bonus difference

Up to this point, many businesses have announced their salaries and bonuses for Tet. The Department of Labor, War Invalids and Social Affairs of localities are synthesizing the situation and reporting to the Ministry of Labor, War Invalids and Social Affairs.

According to the Department of Labor, War Invalids and Social Affairs of Ha Giang, as of November 14, the whole province had 3,386 enterprises. According to the results of the review up to the time of reporting, 31/42 enterprises announced plans to give bonuses for the New Year and 37/42 units had plans to give bonuses for the Lunar New Year...

Regarding the New Year bonus, the Department said that the highest bonus is 3 million VND/person and the lowest bonus is 200,000 VND/person.

During Lunar New Year, the highest bonus for workers is 30 million VND and the lowest bonus is only 300,000 VND/person.

Many businesses have announced Tet bonuses for employees (Illustration: Nguyen Son).

Also discussing this issue, Mr. Nguyen Van Tan, Hosiden Vietnam Co., Ltd. (Viet Yen district, Bac Giang province) said that it is expected that in about a week, the company will officially announce the Tet bonus to workers and employees.

For over 10 years now, the company has had the same Tet bonus, which is the 13th month salary and lucky money after Tet. Despite the impact on orders last year, the company still maintains the above Tet bonus for workers and employees.

Recently, the Executive Committee of the Trade Union of Far Eastern Apparel Vietnam Co., Ltd., VSIP Industrial Park (in Thuan An City, Binh Duong) announced Tet bonuses for 4,300 workers.

On the occasion of the Lunar New Year of Giap Thin in 2024, the company will reward all employees, including a 13th month salary bonus equivalent to 1 month of the employee's actual basic salary.

In addition, the company decided to give gifts of gratitude to 24 employees who have worked for the company for 15 years, each gift including 1 tael of gold, a thank you letter and flowers.

Motivate and retain employees

Commenting on the year-end bonus, Mr. Le Quang Trung, former Deputy Director in charge of the Department of Employment, Ministry of Labor - Invalids and Social Affairs, said that this year, businesses have faced many difficulties. However, with the Government's policies and the efforts of businesses, the last months of the year have reduced the number of unemployed workers.

Businesses all want the bonus to be equal to or higher than in 2023. "I think the 2024 Tet bonus will be higher than the 2023 Tet bonus. Many businesses have announced the Tet bonus early so that employees can work with peace of mind," said Mr. Trung.

In addition to businesses with many orders and good revenue, according to Mr. Trung, there are still businesses facing difficulties in production and business. If they cannot give cash rewards, companies can give rewards in kind to employees. Businesses also need to consult with employees to make rewards truly practical and meaningful.

Through many businesses announcing bonuses, some units giving gold bonuses to workers, Mr. Trung believes that this is what makes workers appreciate and attach more to the company. Employers need to be truly aware that workers are the most valuable asset of each unit.

Mr. Dang Tuan Tu, Chairman of the Trade Union of Changshin Vietnam Co., Ltd. (Photo: Hoa Le).

Mr. Dang Tuan Tu, Chairman of the Trade Union of Changshin Vietnam Co., Ltd. (Dong Nai) said that workers who have worked for 20 years or more will receive a bonus of 200% of their basic salary and job salary. Workers who have worked from less than 3 months to less than 20 years will receive a bonus of 25-195% of their basic salary and job salary (depending on their seniority). New workers recruited in January 2024 will receive a bonus of VND500,000.

According to Mr. Tu, despite the lack of orders, the company still takes full care of the welfare of its employees. By announcing the Tet bonus early, the company hopes that employees will feel secure in their work and be closely attached to the company.

Mr. Ngo Duy Hieu, Vice President of the Vietnam General Confederation of Labor, said that the socio-economic situation in the last months of 2023 still has difficulties. Although most businesses have ensured the lives and jobs of their employees, a number of them continue to lack orders, or for a long time under the severe and prolonged impact of the Covid-19 pandemic.

"We believe that this year's Tet salary and bonus will face many difficulties," said Mr. Hieu.

Previously, the Department of Labor Relations and Wages (Ministry of Labor, War Invalids and Social Affairs) said that the Department had sent a dispatch to the Ministry requesting localities to report on the situation of salaries and Tet bonuses in 2024 of enterprises for employees.

The deadline for reporting on the salary and bonus situation of enterprises for employees this year is the same as last year, on December 25. Based on the synthesis of reports from localities, the Ministry of Labor, Invalids and Social Affairs has just released specific information.

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